Insights

Premiums on the Federally-Facilitated Exchanges Drops in 2019

Posted on Friday, October 12, 2018 7:03 PM

This week, CMS announced that premiums on the second lowest cost silver plans for the 2019 coverage year will drop by 1.5% for the first time ever. Some states, like Tennessee, will see a decrease of 26.2%.

“President Trump’s Administration took action to address the skyrocketing price of health insurance, and now we are starting to see the results,” said CMS Administrator Seema Verma. “Despite predictions that our actions would increase rates and destabilize the markets, the opposite has happened. The drop in benchmark plan premiums for plan year 2019 and the increased choices for Americans seeking insurance on the exchanges is proof positive that our actions are working. While we are encouraged by this progress, we aren’t satisfied. Even with this reduction, average rates are still too high. If we are going to truly offer affordable, high quality healthcare, ultimately the law needs to change.”

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